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Gold/Mining/Energy : gossan resources
GSS 3.900+0.3%Jan 27 4:00 PM EST
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To: greg procyshyn who wrote ()7/9/1997 3:50:00 AM
From: greg procyshyn   of 20
 
Exerps from the Gossan News Release Dated July 3, 1997 and reported in the Winnipeg Free Press Saturday July 5, 1997.

Titanium, vanadium, and iron deposit at Pipestone is held by Gossan Resources (50%) and Cross Lake Mineral Exploration (50%). Metallurgy studies conducted by Lakefield Research in March 1997 have recently reported that the deposit can be economically produced by any of the separation methods, Electromagnetic separation being favored by Gossan - cheapest and cleanest method. A portion of the sample has been sent to TZ Minerals International in Australia, who are experts in electromagnetic separation, for testing on ilmenite recovery and quality (ilmenite contains the titanium). This report is expected back in eight weeks.

The Pipestone Lake deposit holds approx. 621.3 - 685 million tons of resources (discrepancy between Gossan News Release and Free Press report!) containing 8.37% Ilmenite, 17.89% magnetite, and 0.2% vanadium. Tonnages calculated to 300 metres in depth. Company officials say this could run to double the current depth.

The above is my abreviated version/combination of both reports for your interest. Gossan does have an e-mail address: gossan@solutions.mb.ca but like a previous response states - they are not in the promotion business so you'll likely have to ask for releases/updates.

Greg Procyshyn
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